Resources

US crypto founders are navigating a shifting regulatory landscape shaped by new appointments, overhauled enforcement priorities, and legislative developments. This article explores the key regulatory trends, potential legislation, and strategic considerations for crypto founders.

Bitcoin is bigger than ever but harder to change than ever. How Bitcoin changes matters. This paper presents novel analysis of consensus changes with alternative clients risking chain splits and loss of user funds.

Avichal Garg, Electric's founding partner, appeared on the Ben Shapiro Show to discuss the problems with legacy Big Tech and cryptocurrency’s role in the declining power of the American dollar. He also described his optimism about the burgeoning AI revolution, and how we can best prepare for the changes it will almost certainly bring to our everyday lives.

Announcing NFT Pulse! https://nftpulse.org We built this because we kept asking NFT questions but had 2 problems: A. data sources were sus B. data was not cross chain We built a v1 on Allium data & are opening the dash publicly. Feedback is appreciated!

Introducing the ZK Market Map! We’ve charted 250+ crypto projects advancing zero knowledge (ZK) tech. This detailed map is an extension of our Crypto Market Map meant to showcase the differences between projects within ZK subsectors. Why did we make this and why does ZK matter? ZK and verifiable compute are boosting the scalability of blockchains, increasing trustlessness on the internet, and unlocking new use cases for blockchains. Years of ZK research is coming to life today in 3 main ways: 1. Scability 2. Trustlessness 3. New Use Cases

We are excited to introduce the Electric Capital Crypto Market Map! The Crypto Market Map tracks 1,500+ projects in crypto. It contextualizes every major project in crypto by organizing projects into 6 tech layers & 137 categories.

Stablecoins are the core fuel of DeFi. We're excited to contribute a tool that helps everyone understand how this core onchain asset is being used and is growing over time. Despite a long bear market, we've reached ATH's of USDC and USDT circulating supply. It's amazing to see how far we've come from 2019. See more at stablepulse.org.

Developers are a leading indicator of value creation. Developers build apps that deliver value to users. Killer apps attract customers. New customers bring more developers. Because crypto is significantly open source, we have an unprecedented ability to measure this developer-value creation flywheel in a rapidly evolving industry. We analyzed 902 million code commits across 1.7 million repositories to create the 2024 Developer Report.

We are excited to announce that Ren has been promoted to Partner at Electric Capital. In keeping with our unique approach of hiring engineers instead of investors, Ren is also an engineer and will continue to ship code along with his investment responsibilities. Ren is an engineer who supports founders to build new, sustainable crypto protocols. Ren invests in emerging technologies that expand what is possible for users. He drove our investments in Tonk, Monad, Ellipsis, and Solana. Tonk uses zero-knowledge tech to enable developers in a variety of applications. Monad gives users fast finality at very high throughput by building the world’s best parallelized EVM. Ellipsis is the #1 CLOB on Solana and offers users better liquidity opportunities at low costs.

We are excited to announce Thuan Le’s promotion to Partner and Head of Founder Platform at Electric Capital. Thuan Le is the heart of Electric’s Founder Platform. Thuan connects founders with the expert resources they need to thrive. She creates opportunities for founders to learn and unwind at Electric’s Founder Summit. She adds a human touch to all of our engagements, from designing custom swag to sending gifts for founders’ new babies. Thuan also builds the broader crypto community by hosting dozens of open cafes and events at global conferences like EthCC, Solana Breakpoint, Token2049, and more.

We fingerprinted 485 million code commits across 818k open-source repositories to create this year's Developer Report. While developers overall are down 24%, the most valuable segment of developers (2+ year tenure who contribute the most code) continues to steadily grow. Crypto is now clearly Multi-chain. Crypto is global, and the US continues to lose developer share.

There are 19.3K active crypto developers, down 27% year-over-year as newcomers leave, though developer counts are up 66% vs. the last bear market. Developers with 1+ years experience now contribute over 70% of code. Those still active tend to have more commits, work more days, and have longer crypto tenure than those who left. The upcoming Report will analyze the crypto developer ecosystem.

On September 7, 2023, the Commodities Futures Trading Commission (CFTC) announced settlements of enforcement actions with 3 decentralized exchanges (DEXs): Opyn, ZeroEx, and Deridex. Here are key takeaways for founders.

Bear markets are a true test of conviction. They offer an opportunity to challenge assumptions, refine theses, and strategically place bets for the upcoming market upswing. As veteran crypto investors, Avichal and Sanjay are no strangers to these challenges. So, what strategies are they deploying during this bear market?"

The SEC has sued Binance and Coinbase for operating unregistered securities exchanges and offering unregistered securities, including their staking programs. What does this mean for crypto?

The Proposed Digital Asset Market Structure Bill is an important step towards US regulatory clarity for digital assets, and provides an opportunity for Congressional engagement with hearings in various House Committees to discuss digital assets and the Proposal’s ideas.

Electric Capital General Counsel Emily Meyers joins Unchained to read between the lines of an action-packed week for Gary Gensler’s SEC. Meyers lends her lawyerly eye to the key differences between the two lawsuits, the SEC’s potential strategy, and whether federal legislation will beat the courts in providing clarity.

Avichal Garg joined Haseeb Qureshi to explain their investment frameworks and why their crypto thesis hasn't changed. We talk about the US crypto exodus, mental models for investing, why TAM (total addressable market) is useless, investing in private vs public markets, what crypto got wrong, and more.

Most founders are familiar with the idea of transitioning from 0 to 1. However, too few pay adequate attention to the stage preceding it: transitioning from -1 to 0. We were excited to host a panel of experts on this critical part of the founder journey during SF TechWeek. The panel featured Avichal Garg, Managing Partner at Electric Capital; Peter Reinhardt, Co-founder and CEO of Charm Industrial; Ruchi Sanghvi, Founder and Partner at South Park Commons; and Aditya Agarwal, also a Partner at South Park Commons.

We explore L2 chains value accrual. Key areas include intra-domain and cross-domain good MEV, gas pricing for spam protection and profit, congestion costs, and innovative app-specific rollup business models.

We are excited to announce that Ken Deeter and Maria Shen have been promoted to General Partners at Electric Capital. All of Electric Capital’s Partners are engineers.

We analyzed where open-source crypto developers are located. Our data suggests that the U.S. is losing its lead in blockchain developers.

Renowned investor and founder Elad Gil, CPO of Polygon Labs Rebecca Rettig, and former CTO of Afterpay Akash Garg join Electric Capital as advisors to help crypto founders scale to 1 billion users.

Miles Deutscher interviews the biggest minds in the crypto industry every week, starting with Avichal Garg of Electric Capital.

Maria Shen, partner at Electric Capital, unpacks the venture firm’s latest Developer Report on the Unchained podcast.

Public live dashboard with the most important metrics and charts in crypto, including a breakdown of different ecosystems and developer geography data.

We fingerprinted 250 million code commits across open-source repositories to create the 2022 Developer Report.

This week's, Reshma and Nihal talk to Electric Capital's General Counsel Emily Meyers about the risks and opportunities around potential crypto regulation.

The Unstoppable Podcast talks with Electric Capital Design Partner Elizabeth Laraki about user experience and design in Web3.

Avichal Garg, the CEO and co-founder of Electric Capital, defines himself as “an NFT maximalist,” who believes that nonfungible tokens (NFTs) will play an essential role in bringing crypto to the masses. Unlike other crypto niches, NFTs are relatable to aspects of everyday life such as art, music and games.

Hashflow's "The DeFi State" 3rd episode features Haseeb Qureshi from Dragonfly Capital and Avichal Garg from Electric Capital - for an epic debate on the future of compliant DeFi!

Jay Clayton, Kevin Warsh, and Pratiti Raychoudhury have joined as Electric Advisors to support Web3 founders. They will work with founders to navigate the regulatory landscape and build crypto-enabled applications that scale to billions of users.

This episode covers Avichal’s career as an operator, influence on his investment approach, conviction in crypto, and opportunities in today’s markets. They cover Electric’s investment strategy, differentiated team structure, investment examples, and the future of crypto.

Avichal sits down with Denelle to discuss reorienting human organizations to take advantage of this new infrastructure, being thoughtful about partnership and giving Web3 founders advice, and even shares a bit of history about the origins of corporations which brings us to the present day and DAOs.

Avichal Garg, founder of Electric Capital, joins Erik on this episode.

Derek Edwards Schloss, Maria Shen, and Kevin Rose sit around a table and discuss what's going on in the wide world of NFTs. You might even be inclined to call this a PROOF roundtable discussion! Just don't call it a comeback!

Before we onboard the next billion Web3 users, we need clear, appropriate, and novel regulatory and tax frameworks that unlock innovation and provide users clarity. To support this mission, we’ve joined the Crypto Council for Innovation (CCI).

Software has eaten the world. Software companies acquire more customers, have better margins, and are able to deliver novel services to customers. Because software has become the critical business lever in every market, every company must become a software business.

Why Crypto is Software Eating Money, Why Crypto Firms Will Outcompete Traditional Venture Firms, How To Price Tokens and When To Have Them, DAOs: How Are They Structured and What Makes One Successful with Avichal Garg, Co-Founder @ Electric Capital

We raised $1 billion to fund crypto networks, Web3 protocols, and blockchain-enabled businesses. A new economy is developing on top of the programmable money stack. In this article, we outline the 5 key trends we believe will emerge and are looking to fund as the Web3 economy develops.

In this episode, we’ll dive into the cryptocurrency phenomenon and evaluate the naysayers and their critiques of this new alternative and the coming financial industry revolution. We’ll also dive into our thoughts on the government’s discussions to back their own crypto coin, and whether to approach crypto more as a currency or a commodity.

The Five New Frontiers for NFTs in 2022 with Maria Shen from Electric Capital.

Crypto Developer Count Hits All-Time Highs w/ Electric Capital’s Maria Shen.

Pomp discusses with Avichal Garg, Partner at Electric Capital, a wide range of topics from Bitcoin, Finance, Cryptocurrencies & everything in between.

Electric Capital’s Maria Shen dives into her company’s recently published research report about Web3 open-source development in 2021.

We fingerprinted nearly 500K code repositories and 160 million code commits across Web3 to create the 2021 Electric Capital Developer Report.

There are five compelling Ethereum narratives in market today: ETH is a Digital Commodity, ETH is a Non-Sovereign, Digital Store of Value, Ethereum is a Payment Network, ETH is a Productive Financial Asset, Ethereum is a Digital Country and ETH is a Reserve Currency.

NFT art volume shot up to over $200M in March this year on some of the largest marketplaces, only to fall 50% in April. To detractors, this is the “end of NFTs”. However, art is the tip of the iceberg and we are rapidly seeing new use cases for NFTs.

Our latest update includes over 100 new projects (with over 830 total projects) and a new format in Airtable.

Electric Capital recently submitted comments during FinCEN’s open comment period for proposed rules documented in Docket No. FINCEN-2020–0020, RIN 1506-AB47. We have republished these comments below.

The Developer Report deeply analyzes developer activity across all open source crypto ecosystems.

Why the US Government and Crypto Ecosystem Must Work Together

We are pleased to announce the close of Electric Capital’s second fund, a $110M Seed and Series A fund, focused on cryptonetworks and blockchain enabled businesses.

Elad Gil chats with early crypto and blockchain founders at Electric Conversations.

We’ve added over 200 projects and companies to our crypto and blockchain ecosystem market map since we first published it last year.

John Lilly, former CEO of Mozilla, answers a question on why it's difficult for new browsers to gain marketshare today. He sits down with crypto founders at a dinner for Electric Conversations.

A string of recent successful attacks on the $850M Decentralized Finance ecosystem has highlighted the need for better risk management.

We categorized and organized over 500 projects and companies in the crypto and blockchain ecosystem to produce a market map.

An excerpt from our quarterly letter to limited partners in Electric Capital.

We fingerprinted 27,000+ code repositories and 22 million code commits to create this H1 2019 Developer Report.

Balaji Srinivasan talks about his work at Coinbase, his experience building Counsyl, Earn, Teleport, and Coin Center as well as the future of Silicon Valley.

Blake Scholl talks about his experience building a commercial, supersonic airplane at Boom. Boom has raised $150M and is slated to fly the fastest non-military plane ever built at the end of 2019.

The two core areas value will accrue in crypto, why crypto will drive the recentralization of talent back into Silicon Valley, and why regulation is the opposite of what we should be concerned by in crypto with Avichal.

We fingerprinted 20,000+ code repos and 16M commits to create this Q1 2019 Dev Report. We are excited to introduce this as the first of a series of reports that dig in to where crypto developers are focused.

The Programmable Money Technology Stack is the Most Valuable Segment of the Cryptocurrency Market